If I take out a loan against my 401K for 20,000$, and then leave the company I am with, and choose to keep the loan instead of paying back, how much would I owe in taxes?
If I take out a loan against my 401K for 20,000$, and then leave the company I am with, and choose to keep the loan instead of paying back, how much would I owe in taxes?
That amount would be income and taxed at your tax rate plus you would have a 10% early withdrawal penalty on that amount.
Sign In
